Big news alert in the world of digital asset investments! Fasset, this innovative platform, just nailed it by snagging a Virtual Asset Service Provider (VASP) license to work its magic in Dubai. This game-changing achievement doesn’t just put Fasset on the map – it basically gives them the green light to cater to institutional, qualified, and regular ol’ retail investors too. Getting this license wasn’t a walk in the park; it went through a meticulous three-stage process, landing them the coveted operating license recorded on Dubai’s public register.
Fasset’s been on a mission, and they’re not holding back. Their journey to getting this full-blown license in Dubai was all about blending innovation with ethical financing. Back in 2020, they made waves by offering fee-free trades in six Gulf Region countries. And that’s not all – they also proudly introduced what they call the “world’s first operating system built on the Ethereum blockchain dedicated to ethical financing of sustainable infrastructure.” That’s not just putting them ahead in the digital asset investment scene; it’s shining a light on how they’re merging blockchain tech with sustainable finance.
This isn’t their first rodeo in expansion either. Fasset’s been spreading its wings globally, focusing on real-world solutions while ticking all the compliance boxes. They’ve got the nod to operate in the European Union and kicked off in Indonesia, locking in a major partnership with Mastercard Indonesia along the way. Now, with this Dubai license, Fasset FZE is all set to offer broker-dealer services, tokenized bonds, and stocks. They’re cozying up to Dubai’s Virtual Asset Regulatory Authority (VARA), making moves to be your go-to hub for all things digital assets.
CEO Mohammad Raafi Hossain couldn’t be happier about this Dubai stamp of approval. He pointed out that this VARA approval’s a big deal, linking places like Indonesia, Malaysia, Bangladesh, Pakistan, and Turkey in their global licensing portfolio.
Speaking of Dubai’s regulatory game, VARA’s not playing around. They’ve set a deadline for crypto firms to wrap up their applications, making it clear they mean business in creating a safe and compliant digital asset world. Miss the November 17 deadline, and it’s enforcement time – Dubai’s serious about nurturing a legit digital asset ecosystem.
Fasset earning its stripes with a Dubai operational license isn’t just a pat on the back; it’s a testament to their commitment to innovation, playing by the rules, and ethical financial setups. They’re setting the bar for digital asset investment platforms dealing with tricky regulatory waters while forming strong alliances and stretching their global reach.
